08 August 2010

Stimulus bill helped some far more than others

WASHINGTON — In February 2009, the United States had fallen into what many economists called the deepest economic slowdown since the Great Depression. The housing bubble had burst, unemployment was nearing its highest level in almost three decades and the once-freewheeling banking sector had turned tightfisted.

At the urging of President Barack Obama, Congress passed a $787 billion economic stimulus bill on Feb. 10, 2009, to get federal dollars flowing into the U.S. economy.

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